Share this page

News Item

BlackRock buys Ashtead foodstore

24th April 2018

GCW has purchased a foodstore in the affluent Surrey commuter town of Ashtead for BlackRock.

The newly developed building is let to M&S Simply Food on an unbroken 20 year lease with RPI linked rent reviews. BlackRock have bought the freehold property including the ground rents on nine residential units for £7.215 million reflecting a net initial yield of 4%.

“This is a great investment, 20 year unbroken leases are becoming rarer. It reflects the occupational demand to be the dominant foodstore in a wealthy London commuter belt location. In the increasingly political and economic uncertain environment, we see the appetite for secure long income investments with index-linked reviews as getting stronger and we are pleased to have secured this investment amongst competitive bidding,” says GCW director Oli Horton.